QV Investors Inc. Sells 380 Shares of Enbridge Inc. (NYSE:ENB)

QV Investors Inc. cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.0% in the fourth quarter, HoldingsChannel reports. The firm owned 1,558,177 shares of the pipeline company’s stock after selling 380 shares during the period. Enbridge accounts for approximately 6.8% of QV Investors Inc.’s portfolio, making the stock its 2nd biggest holding. QV Investors Inc.’s holdings in Enbridge were worth $66,099,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Eagle Bay Advisors LLC raised its stake in Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 240 shares during the last quarter. Richardson Financial Services Inc. increased its holdings in shares of Enbridge by 28.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 246 shares during the period. Associated Banc Corp lifted its stake in shares of Enbridge by 3.6% in the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after buying an additional 248 shares during the period. Hobbs Group Advisors LLC grew its position in Enbridge by 15.1% during the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock worth $77,000 after buying an additional 249 shares in the last quarter. Finally, Centaurus Financial Inc. increased its stake in Enbridge by 1.7% during the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock valued at $608,000 after acquiring an additional 256 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Price Performance

Shares of NYSE:ENB traded up $0.14 on Monday, hitting $43.62. The stock had a trading volume of 1,771,310 shares, compared to its average volume of 2,924,481. The company has a market capitalization of $95.02 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm’s 50 day moving average price is $42.51 and its 200-day moving average price is $40.30. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the prior year, the company earned $0.46 EPS. On average, equities research analysts predict that Enbridge Inc. will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.14%. Enbridge’s payout ratio is 124.07%.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.